Iran Rules Out US Negotiations But Says Oman Deal 'Very Close' | Daybreak Europe 8/10/2026

Summary

The episode covers elevated oil prices as an Iran-Oman deal to reopen the Strait of Hormuz remains elusive, with Iran rejecting direct US talks and demanding concessions. Israel rejects a US-backed plan to disarm Hamas. China’s factory‑gate and consumer inflation ease for the first time since the Iran war, reviving deflation concerns. Markets look ahead to US CPI data and a busy week of earnings including renewable energy firms and Maersk. AI safety fears grow after multiple breaches, while global stocks trade near record highs and Treasuries give back some gains.

• Oil extends gains as the Iran-Oman Hormuz deal remains unresolved and Houthi attacks continue in the Red Sea.
• Iran rejects direct US negotiations, demands sanctions relief and asset unfreezing before any mechanism to reopen the waterway.
• Israel’s Netanyahu rejects a 15‑point Trump‑backed plan to disarm Hamas, hardening his rhetoric ahead of domestic political pressures.
• China’s PPI and CPI both undershoot estimates, with factory inflation slowing for the first time since the Iran war broke out, signalling weakening domestic demand.
• US CPI on Wednesday is the key data highlight, with markets seeing a modest beat unlikely to revive Fed rate‑hike bets after a weak July jobs report.
• European earnings week features renewable energy names (Vestas, Ørsted, E.ON) and Maersk, expected to post strong results on elevated container rates and energy tailwinds.
• Global stocks trade near record highs as Asian traders renew AI bets, despite oil price gains and mixed futures on both sides of the Atlantic.